AbbVie Inc. (NYSE:ABBV) Stake Reduced by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,755 shares of the company’s stock after selling 156 shares during the period. Stockman Wealth Management Inc.’s holdings in AbbVie were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. TI Trust Inc. purchased a new stake in AbbVie in the 3rd quarter worth about $204,000. AFS Financial Group LLC purchased a new stake in AbbVie in the 3rd quarter worth about $234,000. OneAscent Financial Services LLC lifted its stake in AbbVie by 24.6% in the 3rd quarter. OneAscent Financial Services LLC now owns 6,030 shares of the company’s stock worth $899,000 after acquiring an additional 1,191 shares in the last quarter. Strategic Advisors LLC lifted its stake in AbbVie by 2.1% in the 3rd quarter. Strategic Advisors LLC now owns 78,456 shares of the company’s stock worth $11,695,000 after acquiring an additional 1,615 shares in the last quarter. Finally, PSI Advisors LLC lifted its stake in AbbVie by 5.5% in the 3rd quarter. PSI Advisors LLC now owns 4,410 shares of the company’s stock worth $657,000 after acquiring an additional 231 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

ABBV traded up $1.53 during midday trading on Monday, reaching $167.94. The company’s stock had a trading volume of 5,580,360 shares, compared to its average volume of 5,635,411. The company has a fifty day simple moving average of $175.34 and a 200 day simple moving average of $160.42. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The stock has a market cap of $297.36 billion, a P/E ratio of 61.52, a PEG ratio of 2.14 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the company earned $3.60 EPS. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 11.16 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.69%. AbbVie’s dividend payout ratio is currently 227.11%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ABBV shares. Barclays raised their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Truist Financial raised their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Raymond James raised their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets increased their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.